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Capital One has launched the Capital One Savor® rewards credit card now that their Premier Dining Rewards card is no longer available. Capital One has made several updates to this card since its initial offering. This new rewards card offering comes with an updated $500 sign-up bonus opportunity.
As the name subtly hints, this card is targeted to consumers that dine out often, where the earnings rate is the highest at 4% cash back (previously 3%). The updated 4% rate now also applies to purchases categorized as “entertainment”. The second highest earning category is for groceries, where you’ll earn 2% cash back.
What counts as dining?
Purchases at restaurants, cafes, bars, lounges, fast-food chains and bakeries.
What counts as entertainment?
Buying tickets to a movie, play, concert, sporting event, tourist attraction, theme park, aquarium, zoo, dance club, pool hall or bowling alley. Also, making purchases at record store and video rental locations. This excludes non-industry entertainment merchant codes like cable, digital streaming, and subscription services.
What counts as a grocery store?
A supermarket, meat locker, freezer, dairy product store and specialty market. Excludes superstores like Walmart® and Target®.
The $500 bonus is a big step up from the previous $100 promotion, but the trade-off now is that there’s an updated $95 annual fee (previously no annual fee). The good news is that the annual fee is waived the first year so you can give the card a full trial run. While there’s nothing groundbreaking with this card, it will come in handy for users with the intended needs.
If you travel often and dine out, you’ll be better off with other card choices that have higher earning potential for both categories of spending (the Chase Sapphire Preferred® and Barclaycard Arrival® Plus World Elite Mastercard® are popular choices, but also have annual fees).
If you’re mostly staying put in your hometown and eat out often, then this card may be the right fit for you. Or, perhaps you have a large family and everyone only eats organic, racking up hefty grocery spending each month.
If you’re not spending heavy on Dining, Entertainment and Groceries, there are several No Annual Fee credit cards that can earn 1.5% – 2% on ALL purchases (e.g. Capital One® QuickSilver® Cash Rewards [1.5%], Citi Double Cash [2%]).
Savor® Rewards Card $500 Bonus
Earn some free meals with the $500 bonus!
A $500 sign-up bonus is a surprisingly high value offer for such a card. If you’d like to compare it to other great sign-up bonuses, see our Credit Card Bonuses page.
To earn the $500 bonus with the Savor® rewards card, spend $3,000 on purchases within the first 3 months of account opening. This high spending requirement is expected for such a big bonus offer.
Ways To Meet The Spending Requirement
If for whatever reason you find yourself unable to reach that $3,000 spending requirement in the first 3 months (maybe you’re applying for several card bonuses?), below are some good options:
MEETING CREDIT CARD BONUS SPENDING REQUIREMENTS
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Savor® Rewards Card Benefits
The 4% cash back on dining/entertainment and 2% on groceries (it’s the standard 1% on all other purchases) are the obvious reasons for jumping on this card, and the cash back you earn has no maximum caps and no rotating categories to be concerned with. Your cash back will never expire, and there’s actually no minimum threshold you must reach before you can redeem your earnings.
While we think it’s best to carry a better Travel specific credit card when you’re abroad, it’s nice to know the Savor® card actually won’t incur any foreign transaction fees out of the country. It’s typically 3% for such spending with cards that don’t offer this perk.
Aside from these main card benefits, this card also comes with World Elite Mastercard® Benefits:
- Extended warranty protection at no charge on items that are purchased with your credit card.
- Complimentary concierge service to help with booking travel, dining reservations, locating hard-to-find items and more—24 hours a day.
- Identity Theft resolution services
- Travel upgrades and savings like complimentary room upgrades, early check-in and late check-out when available, access to a portfolio of Luxury Hotels & Resorts and more.
- Travel protection where you can be reimbursed up to $1,500 per trip for non-refundable travel expenses, if your trip is cancelled or cut short by things like sickness or injury.
- Price protection where you can get reimbursed the price difference on eligible items when you find the same item for a lower price within 60 days of purchasing it with your credit card.
What’s The Competition?
The Savor® rewards card from Capital One is actually a good option for those with specific Dining and Grocery spending needs, but you’ll definitely want to take a look at some other options before making the final decision.
Travel Card Options To Consider
These card alternatives have annual fees, but also come with high bonus offers: Chase Sapphire Preferred® and Barclaycard Arrival® Plus World Elite Mastercard®.
| The Chase Sapphire Preferred® credit card currently has an offer for 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Redeeming the 50,000 bonus points through the Chase Ultimate Rewards® program, which is praised by users, will get you $625 in value towards travel. The 50K bonus points are worth $625 because you get 25% more value whenever you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. Ongoing rewards with this card include earning 2 points per $1 on Travel and Dining at restaurants. The annual fee is $95, but it is waived for the first year. Full Review |
Barclays Arrival® Premier World Elite Mastercard® / Barclaycard Arrival® Plus World Elite Mastercard®
 The Barclays Arrival® Premier World Elite Mastercard® doesn't have an initial sign-up bonus offer. This card is targeted to high spenders that plan on carrying a good travel card for the long term. Instead of a bonus available upon account opening, cardholders are able to earn 25,000 loyalty bonus miles each and every year that they spend at least $25,000 in purchases. These 25,000 bonus miles are worth $250 in travel credits.The card also earns unlimited miles at the rate of 2 miles per $1 spent on all purchases regardless of category. With the miles earning rate taken into account, spending $25,000 a year will net you 75,000 miles worth $750 in travel credits, and you'll be able to earn that amount yearly.As expected with any good travel card, there are no foreign transaction fees to be concerned with and you'll get the higher worldwide acceptance of a Mastercard, which is nearly equivalent to that of Visa and much better than Discover or American Express. If you're not a high spender who travels often, this likely will not be a suitable card option for your needs. Full Review The previously discontinued Barclaycard Arrival® Plus World Elite Mastercard® is now available again, and with a 60,000 bonus miles offer. If you're not a high spender or if you'd prefer a big initial sign-up bonus, this is a great alternative to the Barclays Arrival® Premier World Elite Mastercard® above. The 60k bonus miles will be worth $600 when you redeem towards travel. If you take into account the 5% miles back every time you redeem perk, the 60k miles would then have a $630 value.This card also earns unlimited miles at the rate of 2 miles per $1 spent on all purchases regardless of category, and doesn't have foreign transaction fees on international purchases either. Full Review |
No Annual Fee Card Options To Consider
Capital One® QuickSilver® Cash Rewards, Citi Double Cash, Blue Cash Everyday® Card from American Express and the AARP® card from Chase.
Capital One® QuickSilver® Cash Rewards
| The Capital One® Quicksilver® Rewards card will earn a $150 bonus when you spend $500 on purchases within the first 3 months.The bonus offer is comparable to its top competitors, but this card earns a respectable 1.5% cash back on every purchase with no limit on how much you can earn. There are no spending categories to keep up with. There's a 0% introductory APR on both Purchases and Balance Transfers for the first 15 months with this card; variable APR after that. The Balance Transfer fee is 3% on the amounts transferred within the first 15 months. People like this card because of the cash back rate, the flexibility to redeem your cash back for any amount, and there's no annual fee. Full Review |
| The Citi Double Cash Card earns up to 2% cash back on all purchases. You'll earn 1% cash back for all purchases charged to the card. You'll then earn an additional 1% cash back when you pay off those purchases, as long as you pay at least the minimum due. There are no spending categories to keep up with. You'll also get a 0% Intro APR on Balance Transfers for 18 months. After that, the variable APR will be based on your creditworthiness. There's no annual fee with this card. Full Review |
Blue Cash Everyday® Card from American Express
| The Blue Cash Everyday® Card from American Express has a special promotion when you go straight to their website (it may not appear for everyone and likely will not if you're applying through third party websites). Earn $250 Back after you spend $1,000 in purchases on your new Card in your first 3 months of Card Membership. You will receive the $250 back in the form of a statement credit. Sometimes a lower $150 or $200 cash back offer will appear instead. This card earns 3% at U.S. supermarkets, up to $6,000 per year in purchases (then 1% after you reach the cap). You'll also get 2% at U.S. gas stations & select U.S. department stores. This is one of the best sign-up bonus offers for a card with no annual fee, and the ongoing cash back rate makes sense for those that spend heavy at supermarkets and on gas. |
| The AARP® Card from Chase doesn't currently have a sign-up bonus offer, but earns a high rewards rate on Restaurant and Gas station spending. You'll get 3% cash back on both of these spending categories. All other purchases will earn the standard 1% cash back.There are no caps to the cash back you can earn with this No Annual Fee card, and the rewards will never expire as long as your account is open. |
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